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I couldn't avoid the temptation this morning to add yet more SQZ to what is an already lobsided portfolio. Against all principles of balanced investing I thought it rude not to add at this price, especially when results are imminent. Don't know what the future holds but am relaxed that my money is invested here.
Discipline has gone out of the window. Over the years I have always tried never to chase a rising price however I have just added another £5,000 and feel very comfortable having broken my own rule. Steady gentle rise from here to the 29th (hopefully)
Absolutely brilliant tiggerman, thank you ever so much for persevering. Yes Kal has the Big Pit, massive, just view it on Google Earth. The town itself is very modern and very upmarket with all the miners spending their "hard earned". Really hope that there is just an inkling of their gold at our Hav.
Hi sasa, I do tend to maybe overcheck things not only when I first research a share but also whilst holding a share. With SQZ at this point I feel comfortable, even in today's market, with their all in cost of production which I see as still making us profitable, whilst others must be losing money. No debt and a very healthy bank balance with negligible commitments means that there is every chance of another good deal being made. Colombus and Rhum3 coming on line, with a possibility of Eigg to follow. I also check out changes to the BOD and their histories, as we all know that on AIM there are some that my mother would have called charlatans, and we appear to have the cream of boards with a very balanced outlook on this industry. Maybe I do have an anarakital sad life but it does give me that comfortable relaxed feeling. Hoping that the results confirm all of the above, ha ha!!!
Hi NewKOTB, they have maybe been setting a pattern, in 2017 they issued results on the 6th April, in 2018 it was the 10th, 2019 the 17th. So trending later and with this nasty virus, it may be that accountants and auditors are self isolating, so delaying the issuing. Of course hopefully it also may be that they want to issue alongside the signing off of a new blockbuster deal. I can but dream in these strange times. One thing is for sure, they are imminent, personally I can wait.
I'm sure you're correct Paddy. I had counted ten, but questioned myself when it was suggested that one could be a truck returning to camp. Also I have been hanging on Chart's suggestion on the 24th March that we could be adding two more rigs coming from the Northern Territories. I just thought that my count of ten would be me wishful thinking. Should it ever get above ten, I'm going to have take my socks off to count them all. (lol)
Brilliant work both this morning and all weekend, once again, thanks go to all the constructive contributors, certainly helps the likes of me.
Hi again sasa,
There's yet another coincidence, I am currently the same as you, however only just reached it a few weeks ago.
Have a brilliant day on Sunday, make sure you contact all those who are dear to you, party can be held once this situation is behind us
Not too long for the results now.
Hi sasa,
That could certainly be a base for discussion between the two companies. There would certainly be many advantages for RRE, one of which would be the experience of SQZ as operator of their licences, which I personally believe is lacking in RRE, SQZ have the staff to back that up.
I would personally like a higher bid than the one you suggest but in today's market I have to be realistic and say that would be reasonable.
To reduce gearing the offer may not be all an cash offer, but a combination of share and cash. To me that would be more acceptable and allow us to retain interest in the Newco.. RRE do only have a relatively low number of shares in issue and such an offer could make them more liquid.
Whether any of this is even being muted who knows? However it does excercise our imagination in this strange environment of isolation.
Keep safe one and all
I am hoping for an RNS tomorrow announcing the date of the results. Last year they gave 8 days notice and announced them on the Wednesday, 17th of April, so it's looking imminent and then we should get answers to many of our questions'
In the meantime, all please stay safe and protect those who are fighting this horrible virus.
Could they be prepping new pads for the two rigs that Chartbuster heard about on the 24th March, when Newmont ere stopped from drilling ar Tanamai. The word then was that the two rigs were heading to Havieron. That would then give us ten rigs, one heck of an operation!!!
Hi sasa,
I am aware that we have both been in this share for in excess of 10 years now. That gives me comfort, knowing that I'm not alone in maintaining my faith in the BOD and how they operate this company.
With Rhum3, Colombus and North Eigg due to soak up some expenditure over the coming months, I sincerely hope that they take a longer term view and continue with the plans, after all we do have more than sufficient funds to cover them and even at today's incomes, we appear to still be adding to our warchest.. Also in the current climate, I feel that negotiations will allow for a smaller cost for these operations.
Two of those three, we already are aware of what we have, the third Eigg is as yet unknown, however with the speed of commitment to the decision to drill makes me think that they have confidence in the field.
As you say sasa, not long to wait for last years results but the forward looking statement will interest me just as much and should give clues as to whether another deal is imminent.
Keep safe.
Hi Chart,
A couple of weeks ago you mentioned that a couple of rigs that had been shut down in the Northern Territories could possibly be heading West and maybe taken up by Newcrest.
Have you heard any more about them on your grapevine?It would certainly reinforce the feeling that Newcrest are going all out if it turns out to be true.
I have been wondering what the proportions are for gas use between domestic and industrial is. With most of Europe now in virtual lockdown I'm guessing that the current demand for gas will have increased as it appears that the majority of homes are gas centrally heated. That alone should draw a line under the wholesale gas price. By the time Colombus and Rhum3 are producing all this nightmare should hopefully be history, but who knows?
Can't understand the negativity. We shall have a substantial increase next year, firstly from Rhum3 and Colombus to follow. By the time we move to 100% of BKR we shall already be lifting substantially more than we currently are. A bonus may also come from Eigg and maybe another purchase. Just keep the faith, this is a brilliantly well run company with years of experience between them.